Anthropic raises $65B in Series H funding at $965B post-money valuation

> Since our Series G in February, adoption has continued to grow across global enterprise customers, and our run-rate revenue crossed $47 billion earlier this month.

OK, so their self-reported run-rate revenue hit $47bn in early May.

For comparison:

Apr 6th 2026: https://www.anthropic.com/news/google-broadcom-partnership-c... - "Demand from Claude customers has accelerated in 2026. Our run-rate revenue has now surpassed $30 billion—up from approximately $9 billion at the end of 2025."

So that's $30bn at the start of April.

Feb 12th 2026: https://www.anthropic.com/news/anthropic-raises-30-billion-s... - "Today, our run-rate revenue is $14 billion, with this figure growing over 10x annually in each of those past three years."

That was $14bn on Feb 12th.

And $9bn in December (according to the above April 6th link.)

Probably the bigger headline here is that they’ve blown past OpenAI in revenue and valuation, with OpenAI looking increasingly shaky and vulnerable.

What is run-rate revenue and how is it different than revenue (classic)?

What is this, Series for ants? It barely covers Andrej's sign-on bonus.

As someone who knows admittedly knows nothing about startup funding rounds, how many more rounds of funding can they do before an IPO? Is it effectively infinite?

That you all have to pay of course. With interest. Directly or indirectly. Through subscriptions or through pension funds and such.

Does this mean no IPO this year? What are the likely chances a company at this stage needs two rounds of funding within a year?

Anthropic has a great product, but what's going on in the stock market is astonishing. Companies waiting to be valued at a trillion dollars before going public? (I'm writing this comment with the assumption that they will go public soon and the valuation will be higher than this $965 billion dollar private valuation) The stock market used to be a place for companies to raise money from investors. But that isn't what it is anymore, it's a dumping ground. Venture capitalists & private investors are sucking all of the possible growth and future upside from these companies and then dumping them on retail investors when there's nothing left. There is no growth or upside left by the time these companies go public. If you invest in these IPOs you are buying the absolute peak with all potential future profits baked into the price, with nowhere left to go but down.

I wish I could invest into it, I'd at the very least have invested in their Series F. It was a no brainer by that point. If anyone could teach me how to get into stuff like this, that'd be awesome. I'm from the Netherlands, so not American. Though I'm married to an American.

So close to being the first kilocorn. A unicorn = 1 billion, this is almost 1k.

Say you join Anthropic now as an employee. What are the chances of your equity appreciating in value? I don't think we have any historical precedents to this.

This is all getting a bit tiring. Show us the S1 already!

This did round involve a secondary? If yes, any data to suggest that these secondaries are leading to increased spending outside of housing and propping up the local economy?

Boys we got more subsidy for Claude Code Plans! Let the VC financed spending of 1000$ of datacenter cost for 200$ sales price continue!

That announcement is a bit short on details. I suppose that, like in the previous rounds, there are some strings attached and they'll not get all of it at once.

Hynix is participating with a new circular deal. Hynix is also valued at $1 trillion now, which is positively insane.

This scam will implode harder that the housing bubble.

They're going to run out of letters pretty soon.

[dead]

I'll have some of that joint they be smokin'

/s

nice, that's another 4 years of spacex data center usage runway!

Revenue up to $47B. Looking forward to the Ed Zitron hot take on this one! No doubt he will fling more baseless accusations of fraud and other nonsense.

This is likely the last fund raise before going public.

You can't spell Anthropic or OpenAI without "IPO". You can remove the "c" in anthropic, reverse it and the first 3 letters is "ipo".

But you certainly can spell both of them without "AGI".

Therefore, "AGI" is a complete scam and it actually was meant to be a giant IPO.